Session Law

2014

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Chapter 139 An Act relative to continuing education requirement for insurance producers

     Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same as follows:
     SECTION 1.  Section 177E of chapter 175 of the General Laws, as appearing in the 2012 Official Edition, is hereby amended by striking out, in lines 11 and 12, the words “during the first thirty-six month period following the date of original issue of the licenses” and inserting in place thereof the following words:-  prior to the initial renewal date of such license.
     SECTION 2.  Said section 177E of said chapter 175, as so appearing, is hereby further amended by striking out, in line 16, the word “subsection” and inserting in place thereof the following word:-  paragraph.
     SECTION 3.  Said section 177E of said chapter 175, as so appearing, is hereby further amended by inserting after the word “period”, in line 16, the following words:-  prior to the renewal date of the license.
     SECTION 4.  Subsection B of said section 177E of said chapter 175, as so appearing, is hereby amended by adding the following paragraph:-
     (3)  Any person holding 1 or more such licenses and subject to the requirements of paragraphs (1) and (2), shall, as part of such requirements, satisfactorily complete a program of instruction or attend a seminar on ethics equivalent to 3 classroom hours of instruction.
     SECTION 5.  Subsection H of said section 177E of said chapter 175, as so appearing, is hereby amended by adding the following sentence:- In addition to, or in lieu of, a license suspension, a person, after a hearing, which may be waived by that person, may be subject to a civil fine of not less than $20 nor more than $100 for each hour of instruction by which that person fails to meet the requirements imposed by this section.

Approved, June 17, 2014.